JINDAL STEEL

“So maybe not 70-30, but yes, we'll try to maintain 65-35 including plates.”

“And the next, that is H2, we are aiming for 6 million tons. So, this is net steel, the gross steel may be about 11 million tons.”

“So by and large, I would say that the company is in a very, very solid state, and we'll be making a record production in the Q3, which will be ending on December 2026.”

“Q4, we are further looking very positive, and we feel that we'll be surpassing the records what we are going to make in Q3.”

“We'll be meeting out our entire requirement in the next year from our own coal mines and also depends upon the costing.”

“But for this year, we continue to remain in the stated guidance of INR 7,500 crores to INR 10,000 crores.”

“I'm also pleased to inform you that 192-kilometer-long slurry pipeline is already commissioned. The commercial supplies from Barbil to Angul will be starting, I think, in next 2-3 days' time.”

“From tomorrow? Because tomorrow, we are going to start the commercial production.”

“The DRI plant will be commissioned again in June 2027. This has already come up.”

“So, we don't want to invest money unless we reach to our 100% capacity utilization.”

“Hopefully, we will ramp it up in this particular month, say, today is 23rd, so I think in 7 days' time, we should reach to about 10,500 tons per day. And in November, we are aiming for 11,000 tons and then December 12,000 tons per day.”

“So together in Raigarh and Angul, we have total coal mining capacity about 15 million tons.”

“Kasia, I'll tell you first, Kasia, we are taking out 22,000 tons per day today, and we are going to bring it to a level of 30,000 tons per day.”

“So, 3 more gasifiers, which is having capacity of 35,000 NM cube per hour each. That means 105,000 NM cube per hour that is being installed.”

“If there is a shortage, we can do it 50,000 tons per day also. But we are meeting our requirements though OMC and NMDC also, they are supporting us.”

“And today, we are undisputed leader in plates, selling plates to the country. We produce more than 220,000 tons plates per month in both locations.”

“So, I would say that now we are making only 120,000 tons per month of TMT. And earlier, we were making 220,000 tons.”

“And you will see this difference getting increased as we go into the quarters because their EBITDA and volume both will keep increasing.”

“At the same time, our overseas subsidiary in the Mozambique also had a better EBITDA compared to the last year Y-o-Y, given the better coal prices.”

“So, the hot-rolled coils also, we are aiming only for the value-added hot-rolled coils. We are not manufacturing vanilla products in hot strip mill.”

“Though our production has gone up by 20%. The industry overall growth is about 10%.”

“We are doing about 100,000 tons of export every month, mainly hot-rolled coils, plates and some quantity in rails and the structures.”

“And thanks to Government of India's spending on defence and also on the merchant vessels and merchant shipbuilding. So, this is a good sign. The market for windmills is still very hot in India and also outside India.”

“Yes, we feel that quarter 3 and quarter 4 will be better.”

“But now Q3 is very optimistic. It's a festival season, the building construction in the country going very well.”

“The sequential moderation in EBITDA was primarily due to higher raw material and operating costs, notwithstanding the positive impact of higher volume and improved sales mix.”

“Coming to the cost part, coking coal was a key cost impact, and it was within the guidance what we have given in the last call for $12 to $15 per ton.”

“As far as the market is concerned, the market is supporting very well, though the input costs have gone up, but we could recover the entire input costs, and we could make some positive impact in NSR while we compare on the input costs.”

“And INR 700 per ton will be saving on freight and no additional expenses.”

“So, of the 700 trucks, at least 500 trucks will be eliminated now.”

“Our consolidated net debt declined by INR 1,141 crores from INR 15,927 crores at the end of June to INR 14,786 crores as at September end.”

“Net debt-to-EBITDA ratio improved from 1.71x to 1.51x. Cash and cash equivalents stood at INR 7,237 crores, providing substantial liquidity as we execute our growth program.”

“So, we are today cash surplus, there is no issue.”

“The manpower is stable. There is no churning.”

“And we switched over to coal gas, that is, syngas for many of the reheating furnaces, galvanizing lines, color-coating lines, and there was no impact on our productivity, production and profitability.”

“There was some delay or you can say there was some stoppage because of very heavy rains. I think from 10th of October onwards, everything is going very well.”

“Roida, at the moment is not working because one right-of-way we have to obtain from Forest Department.”

“And NMDC, there was a stoppage because of landslide on a railway track. This took about 27 days to clear and to relay the railway line.”

“We are using only 31 MLD, which is sufficient. And in next year, we'll be using at least 15% less.”

“We have delivered our highest ever quarterly gross revenue of INR 19,448 crores, up 44% Y-o-Y, while net revenue increased 43% Y-o-Y to record INR 16,704 crores.”

“This was driven by the record Q2 sales volume, as Mr. Sharma said, of 2.38 million tons and higher average selling prices, supported by a higher share of flats and a lower proportion of TMT within the long products.”

“Our adjusted EBITDA stood at INR 2,504 crores, up 34% Y-o-Y, while adjusted EBITDA per ton increased 5% Y-o-Y to INR 10,529 per ton.”

“Our consolidated profit after tax was INR 771 crores compared with INR 844 crores in the preceding quarter.”

“For the second half, our priorities are clear: stabilize and ramp up the expanded facilities, improve product mix, cost competitiveness, working capital management and maintain balance sheet discipline.”